What Yuan Appreciation Means to Gold Industry?

摘要

China's central bank--the People's Bank of (PBOC) announced the yuan appreciated by 2.1 percent on the evening of July 21. The yuan its peg against the dollar and is allowed to move in a narrow band of 0.3 per cent against the US dollar in daily trading and 1.5 per cent against an unspecified basket of currencies. On Sept, 23, the PBOC announced that the float band has been widened from 1.5 per cent to 3 per cent against non-dollar currencies, to give more room for commercial to control risk and wipe out the arbitrage opportunity. What does the move mean to China's economy? How will the yuan revaluation affect the gold industry? Concerns aroused as of the policy The move is a positive adjustment for China's. economy. It is beneficial to maintain the stability of yuan's exchange rate and the security of yuan.